Washington (AP) – The global economy seemed to be in open rebellion against the president Donald Trump Prices like they entered into force Wednesday.
Business leaders warn a potential recession caused by its policies, some of the best United States business partners retaliate with theirs import taxes And the stock market trembles after days of decline.
Trump’s prices have triggered Shortly after midnight, including 104% on Chinese products, 20% on the European Union, 24% on Japan and 25% on South Korea. Administration officials tried to reassure voters, republican legislators and CEOs that rates are negotiable, but by their own admission, this process could take months.
When a slowdown appears on the horizon, investors generally flock to American cash tickets as a refuge, considering the federal government as a source of stability. Not this time. The prices of state bonds are down, increasing the interest rate on the US Treasury ticket to 10 years to 4.45% in the sign that the world is increasingly wary of Trump movements.
“The market is very nervous about foreign investors who move away from the debt of the American treasury, which sends strongly higher yields,” said Gennadiy Goldberg, head of American TD titles. “The markets more broadly, not only the treasure market, are looking for signs that a commercial de -escalation arrives. In the absence of de -escalation, it will be difficult for the markets to stabilize. ”
The republican president was provocative publicly while the stock market was recovered slightly, then sold and then rebounded in morning trading. The S&P 500 stock market index has dropped more than 18% since February 18, while Trump’s pricing plans crystallize.
“It’s time to buy !!!” Trump posted on Truth Social on Wednesday on Wednesday, his social media site. “Be cool!” Everything will work well. The United States will be larger and better than ever! ”
Presidents often receive a credit or an undue blame for the state of the American economy, because their time at the White House is subject to financial and geopolitical forces beyond their direct control. But by imposing prices unilaterally, Trump has an extraordinary influence on the trade flow, creating political risks which could prove difficult to avoid if his plans do not take place. After early success in the control of American institutions, law firms and universities in federal agencies and cultural organizations, he is now faced with global markets that will not simply look into his will.
The CEO and president of the JPMorgan Chase, Jamie Dimon, said that there would be “probably” a recession, although it is also postponed to its economists.
“I think the resolution of these tariff problems and business problems would be a good thing to do,” he said in an interview with “Mornings with Maria” by Fox Business Network.
On CNBC, the CEO of Delta Air Lines, Ed Bastian, said that the administration was less strategic than in Trump’s first term. Her business had planned in January that she would have her best exercise in history, to remove her expectations for 2025 due to economic uncertainty.
“Trying to do everything at the same time has created chaos in terms of being able to make plans,” he said, noting that the request for travel by plane has weakened.
Economic forecastists say that Trump’s return to the White House had a series of negative and cascade impacts that could put the country slowdown.
“Simultaneous shocks for consumer feeling, business confidence, trade, financial markets as well as prices, new orders and the job market will switch the economy in recession during the current quarter,” said Joe Brusuelas, chief economist of the RSM consultation.
The Treasury Secretary, Scott Bessent, previously said that he could take months to conclude agreements with countries on tariff rates, and the administration was not clear on the question of whether the 10% reference rates imposed on most countries will remain in place. But in an appearance on “Mornings with Maria”, Bessent said that the economy “would be back on all cylinders” at a time of “the future not too distant”.
He said there was an “overwhelming” response by “countries that want to come and sit at the table rather than degenerate”. Bessent mentioned Japan, South Korea and India. “I will note that they are everywhere in China. We have Vietnam to come today,” he said.
Even if the administration has tried to calm the world, new risks are formed.
China has imposed 84% tariffs on goods from the United States. Canada now has car rates to match the 25% loaded by Washington. The EU has approved new taxes on American products after steel and aluminum prices of 25% of Trump.
Trump is already asking for more prices, looking at copper, wood and computer flea. In a Tuesday evening speech, he said that imported drug taxes would occur soon.
